The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.

Friday, March 31, 2017

"Tell Me About The Rabbits"

Yesterday it was subprime auto loans imploding at the fastest pace since the peak in 2007. Today it's retail. All of this can be explained away, of course...

"Nine retailers have filed in just the first three months of 2017, according to data provided exclusively to CNBC from AlixPartners consulting firm. That equals the number for all of 2016.It also puts the industry on pace for the highest number of such filings since 2009The industry's pain is far from over. The number of retailers on Moody's distressed list is also at its highest level since the Great Recession"Mall REIT: